ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Foreclosure Defense Nuggets

Updated on April 21, 2011
Be Aware And Peaceful
Be Aware And Peaceful

Deficiency Judgment

I read an Article and Discovered: FYI

I'm wondering if you have heard about something called "deficiency judgment?" I understand it to mean it is what a person still owes on a loan for a home he or she has lost. I learned that in one state, banks have 5 years to file for a deficiency judgment and about 20 years to collect it. We must pray for the US on this situation. We know it will take God to turn this around. He has the answer.

After foreclosure I would have thought that the worse has happend and people would start to heal and begin over. But this news blows me away! How about you? Enough to PRAY!

To my understanding how a deficiency judgment works; is the difference between the value of a foreclosed property when it is sold at auction and the outstanding debt left after it sold.

Like if a homeowner owes $200,000 on a home but now it's worth $100,000 and sold for $100,000. You would still owe, wow, a $100,000???? That's hard to take. If I understood correctly!

And it may be possible to take other assets you own in other states to fill the deficiency judgments. Whoa! Over half the states in US can impose a deficiency judgment, Rules are different; depending on the state.

So be careful not to give up on your mortgage just because its over leveraged. It may not be a smart move, especially if you could pay it. Even you can't pay and think you have to be foreclosed on, get more informed!

I was shocked in reading the article and thought people needed to know, if they don't know. Hope it helps in case you're going through foreclosure or thinking of just walking away. Ask the person helping you about it for your state. All the people that works with me, I will get the information for you for your state.


    0 of 8192 characters used
    Post Comment

    • Jisblessed profile imageAUTHOR


      7 years ago

      Thank you for your vote, greatly appreciated. True, not reported enough and people aren't paying close enough attention because of the horror and devastation of it all and what they're experincing. I hope to be a voice of positive consideration durning these times.

    • fastfreta profile image

      Alfreta Sailor 

      7 years ago from Southern California

      Very educational, and useful hub, Jisblessed. This is a subject that is grossly under reported, and very necessary during these times. Voted up/useful!


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)